Netflix’s decision to limit the ability of its users to share their passwords has paid off for the company, which has added 5.9 million new subscribers since March. It’s estimated that 100 million households breach the rules by sharing passwords. The decision to block password sharing, along with the introduction of a cheaper service with adverts, was brought in after Netflix’s biggest subscriber loss in its history last year. The company’s quarterly income is now up 3 per cent from a year ago, and, along with Hulu, Netflix was the only streaming service to make profit by the end of 2022. Netflix has announced it will spend less on content this year than expected due to the ongoing writers’ and actors’ strike.
Photograph courtesy of Netflix